TORONTO, Sept. 24, 2012 /CNW/ - EPM Mining Ventures Inc. (TSX-V: EPK) ("EPM" or the "Company") announced today that its independent engineering consulting firms, March Consulting Associates Inc. and CH2M Hill, have requested additional time to complete the preliminary economic assessment of the Sevier Dry Lake potash project following discovery of an alternative product process that may potentially improve project economics. EPM now anticipates that the PEA will be filed early in the fourth quarter of 2012.
Lance D'Ambrosio, Chief Executive Officer of EPM, said; "We are very pleased with the work our engineers have completed to date. But rather than publish our PEA as originally planned, we believe that taking the time to complete a more comprehensive report is in the best interests of our company and shareholders."
All other engineering, geotechnical, and hydrology work being performed for the PEA has been completed.
About EPM Mining Ventures
EPM, through its wholly owned subsidiary Peak Minerals Inc., controls directly or through agreement mineral leases on more than 124,000 acres on the Sevier Dry Lake property in Millard County, Utah. EPM is targeting the future development and production of Sulfate of Potash (SOP), a premium priced fertilizer used with special crops and soil types, through a cost-effective solar evaporation methodology. The Company is currently engaged in engineering and chemical analysis designed to support the completion of a definitive feasibility study.
For more information on the Company, please visit our web site at www.epmmining.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements related to activities, events or developments that the Company expects or anticipates will or may occur in the future, including, without limitation, statements related to the Company's business strategy, objectives and goals; exploration of the Sevier Lake project; the completion of the technical report related to the Estimate, further NI 43-101 resource estimates and the PEA. Forward-looking information is often identified by the use of words such as "plans", "planning", "planned", "expects" or "looking forward", "does not expect", "continues", "scheduled", "estimates", "forecasts", "intends", "potential", "anticipates", "does not anticipate", or "belief", or describes a "goal", or variation of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking information is based on a number of factors and assumptions made by management and considered reasonable at the time such information is provided, and forward-looking information involves known and unknown risks, uncertainties and other factors may cause the actual results, performance or achievements to be materially different from those expressed or implied by the forward-looking information. Such factors include, among others, the inability to complete further NI 43-101 resource estimates, the inability to complete the PEA; the failure to obtain all necessary licenses to explore and develop the Sevier Lake project; inability to successfully complete additional drilling at the Sevier Lake project, as well as those factors disclosed in the Company's current Management's Discussion and Analysis, as well as other public disclosure documents, available on SEDAR at www.sedar.com. Although EPM has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in the forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking information will prove to be accurate. The forward-looking information contained herein is presented for the purposes of assisting investors in understanding the Company's plan, objectives and goals and may not be appropriate for other purposes. Accordingly, readers should not place undue reliance on forward-looking information. EPM does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
SOURCE: EPM Mining Ventures Inc.
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Chief Executive Officer
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